bolster your potential profits, but also comes with the risk of greater losses and rules to follow. The steeper it is, the stronger/weaker the market In this example, lets compare the relative strength between USD/CAD and USD/JPY: Its clear you want to be shorting USD/CAD instead of USD/JPY (because its a relatively weaker market). All of which you can find detailed information on across this website. Once the price has moved down towards touching the lower Bollinger band you need to get your stop quickly to breakeven. For example, in the UK the hmrc are known to approach day trading activities from 3 different angles: Speculative/similar to gambling activities Day trading profits would likely be totally free from income tax, business tax, and capital gains tax. The real day trading question then, does it really work? An example: Rome was not built in a day, and no real movement of importance ends in one day or in one week. They can help with pattern recognition and enable you to arrive at systematic trading decisions. Trading Accounts Part of your day trading setup will involve choosing a trading account.
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How Do We Capture a Trend? A short-term MA (like 5 EMA) will let you ride short-term trends. Brokers on occasion have different definitions for active or day traders. Well, think about this. The scorching market means that everyone will be jumping into. At worst you should have been stopped out at breakeven. What you are looking for is the price to continue and approach or touch the upper Bollinger band. Question: What is the best trading strategy books?